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The Specialists in Business Information market profile on Manual and Power Hand Tools analyzes strategies to boost growth and profit margins in this $14.8 billion industry.

Additional Information

Scope and Methodology

The SBI Market Profile on Manual and Power Hand Tools is a guide to the growth- and profit-oriented opportunities in this industry. This comprehensive database covers U.S. shipments, imports, end-use markets and factors affecting demand, retail distribution channels and household spending, household hand tool ownership and purchaser demographics, exports and the Canadian market situation, the cost structure of U.S. plants, and the competitive environment. In addition, major North American manufacturers and marketers are profiled in order to uncover competitor strategies.

The U.S. market supply is calculated from U.S. Department of Commerce statistics by collecting data for domestic plant shipments and adding imports (Section 1). The U.S. market supply is calculated for the manual hand tool and power hand tool and accessories industry sectors, as well as for major manual and power hand tool product lines. This section also compares price trends of the major industry sectors from the Bureau of Labor Statistics’ Producer Price Index.

Section 2 analyzes U.S. hand tool shipments. U.S. shipments are compiled from Department of Commerce surveys. Shipments are for all domestic manufacturers, whether plants are owned by U.S.- or foreign-based companies and whether or not plants specialize (50% or more of total facility revenues) in manual or power hand tool products. Manual and hand tool shipments are segmented into 17 product categories, and power hand tool and accessories shipments are divided into six major product segments, each of which is further segmented by product line. Product line price trends are analyzed as well. A similar breakdown by sector and product line is provided for import shipments. Import data is derived from U.S. customs records and rounds out the total U.S. supply. Import data is also provided by major country of origin. SBI computed import penetration rates to judge the competitive position of foreign manufacturers.

Hand tool purchases by end-use markets are compiled from the Input-Output Accounts published by the Department of Commerce (Section 4). End-Use purchases are provided for manual hand tools, handsaws and saw blades, and power hand tools. SBI investigated the factors driving demand from end-use markets by analyzing construction data, home improvement spending demographics, industrial equipment spending, and employment statistics.

An analysis of distribution channels and household purchases was derived from government and private sources of information (Section 5). Government surveys provide data on retail tool sales by home centers and other building material dealers, hardware stores, and other retailers. Bureau of Labor Statistics surveys provide statistics on household purchases by demographic characteristic, such as income, age, household size, and region. Simmons Market Research Bureau data supply demographic snapshots on hand tool ownership, purchases, and place of purchase. Simmons data provides ownership and purchasing data for 24 products (Section 6) and six distribution channels. Foreign market purchases are analyzed in Section 7. This is accomplished by compiling Department of Commerce export statistics by sector and product line, and by major country of destination. The Canadian market situation is also evaluated from Statistics Canada data.

SBI supplies data on the cost structure and profitability of U.S. plants specializing (50% or more of total plant revenues) in the manufacture and sale of manual and power hand tools (Section 8). U.S. Department of Commerce data covering these plants is supplemented with individual company sales data in order to calculate company market share. Company sales statistics are compiled as part of an exhaustive effort to provide competitor intelligence (Section 9). Annual reports, databases, and trade journals were searched for growth- and profit-oriented strategies.

Action-oriented executives are urged to use this comprehensive statistical database and competitor information to uncover growing product lines, end-use markets, distribution channels, and profitable operating strategies. Executives can begin by using the Comparative Analysis Appendix (Section 10). Work-sheet tables provide a convenient way to compute your own company’s market share and compare your company’s operating ratios to the industry averages.

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